Core Viewpoint - cBrain is embarking on a new growth phase with a strategic plan for 2026-2028, aiming to lead in the global market for standard software for government, which is projected to exceed 50 billion USD due to ongoing digitalization efforts [1][4][20]. Group 1: Growth Strategy - The 2026-2028 plan focuses on accelerating sustainable growth through scalable sales of standard software, utilizing a segment-focused go-to-market approach and a partner-led delivery model [3][11]. - cBrain has invested over 15 years and 500,000 hours in developing the F2 platform, which is positioned to serve the emerging market for standard COTS software for government [6][25]. - The company aims to capitalize on the significant market shift from custom-built IT solutions to standardized platforms, representing a major untapped opportunity [5][21]. Group 2: Financial Outlook - cBrain forecasts revenue of DKK 275–290 million for 2026, reflecting an organic growth of 10-15%, with an expected EBT margin of 15–20% [14]. - The revenue growth is anticipated to be driven by expansion in selected market segments, partnerships, and increased sales to existing customers [14][16]. - Software subscription revenue has shown steady growth, averaging approximately 20% annually from 2022 to 2025, with long-term subscriptions constituting about two-thirds of total revenue in 2025 [17]. Group 3: Market Opportunities - The global government software market is undergoing a structural shift towards standardized software, with cBrain positioned to lead this transition [20][21]. - cBrain's strategy includes targeting specific segments such as paperless ministries and environmental permitting, with plans to expand into additional segments over time [19]. - The F2 platform is designed to support digital transformation at scale, enabling governments to digitize multiple functional areas simultaneously without modifying the standard software [25][26]. Group 4: Product Development - cBrain is enhancing the F2 ServiceBuilder to enable rapid workflow automation and establish a partner channel, which is crucial for scaling operations [9][10]. - The company is also investing in AI technology to embed capabilities within the F2 ServiceBuilder, providing customers with greater control over their processes [10][19]. - The F2 platform has been successfully deployed by government organizations across five continents, demonstrating its adaptability and effectiveness in various bureaucratic environments [27].

Core Insights - cBrain has won a public tender to deliver a national F2 based grant management system for the Danish Secretariat for Competence Development [1] - The Secretariat has processed over 17,000 applications and allocated more than DKK 83 million in grants during the current collective agreement period [2] - The new grant solution is set to go live for the next application round in 2026, enhancing cBrain's position in the Danish market and internationally [4] Company Expertise - cBrain specializes in grants and subsidy management, with a proven track record of delivering high-performing grant systems for various government agencies [3] - The company's cBrain F2 platform supports public sector transformation through integrated case management and process automation [5] - cBrain aims to help governments achieve efficient, transparent, and scalable digital administration [5]